v3.25.2
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Cumulative Distributions in Excess of Retained Earnings
Accumulated Other Comprehensive Income
Non- controlling Interests
Beginning balance at Dec. 31, 2023 $ 3,194,341 $ 47 $ 3,440,639 $ (440,731) $ 49,286 $ 145,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 68,177     65,114   3,063
Issuance of shares of common stock under equity incentive plan 116   116      
Offering costs, discounts, and commissions (36)   (36)      
Stock-based compensation, net of shares of restricted stock forfeited 1,475   1,475      
Retirement of shares of common stock under equity incentive plan (1,040)   (1,040)      
Conversion of OP Units to shares of common stock 0   1,536     (1,536)
Distributions declared (57,292)     (54,552)   (2,740)
Change in fair value of interest rate swap agreements 11,804       11,274 530
Realized loss (gain) on interest rate swap agreements 159       152 7
Adjustment to non-controlling interests 0   4,220   (3,878) (342)
Ending balance at Mar. 31, 2024 3,217,704 47 3,446,910 (430,169) 56,834 144,082
Beginning balance at Dec. 31, 2023 3,194,341 47 3,440,639 (440,731) 49,286 145,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 104,114          
Conversion of OP Units to shares of common stock     2,068      
Change in fair value of interest rate swap agreements 10,348          
Realized loss (gain) on interest rate swap agreements 221          
Ending balance at Jun. 30, 2024 3,197,410 47 3,444,265 (449,893) 60,383 142,608
Beginning balance at Mar. 31, 2024 3,217,704 47 3,446,910 (430,169) 56,834 144,082
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 35,937     35,329   608
Issuance of shares of common stock under equity incentive plan 0          
Offering costs, discounts, and commissions (200)   (200)      
Contributions from non-controlling interests 1,000         1,000
Stock-based compensation, net of shares of restricted stock forfeited 2,073   2,073      
Conversion of OP Units to shares of common stock 0   532     (532)
Distributions declared (57,710)     (55,053)   (2,657)
Change in fair value of interest rate swap agreements (1,456)       (1,391) (65)
Realized loss (gain) on interest rate swap agreements 62       59 3
Adjustment to non-controlling interests 0   (5,050)   4,881 169
Ending balance at Jun. 30, 2024 3,197,410 47 3,444,265 (449,893) 60,383 142,608
Beginning balance at Dec. 31, 2024 3,141,424 47 3,450,584 (496,543) 49,657 137,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 17,493     16,743   750
Issuance of shares of common stock under equity incentive plan 104   104      
Offering costs, discounts, and commissions (136)   (136)      
Stock-based compensation, net of shares of restricted stock forfeited 2,147   2,147      
Retirement of shares of common stock under equity incentive plan (1,446)   (1,446)      
Conversion of OP Units to shares of common stock 0   3,882     (3,882)
Distributions declared (58,874)     (56,274)   (2,600)
Change in fair value of interest rate swap agreements (19,892)       (19,039) (853)
Realized loss (gain) on interest rate swap agreements (6)       (6)  
Adjustment to non-controlling interests 0   906   (892) (14)
Ending balance at Mar. 31, 2025 3,080,814 47 3,456,041 (536,074) 29,720 131,080
Beginning balance at Dec. 31, 2024 3,141,424 47 3,450,584 (496,543) 49,657 137,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 37,323          
Conversion of OP Units to shares of common stock     3,882      
Change in fair value of interest rate swap agreements (30,355)          
Realized loss (gain) on interest rate swap agreements (12)          
Ending balance at Jun. 30, 2025 3,035,821 47 3,459,939 (571,302) 18,009 129,128
Beginning balance at Mar. 31, 2025 3,080,814 47 3,456,041 (536,074) 29,720 131,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 19,830     20,160   (330)
Issuance of shares of common stock under equity incentive plan 0          
Offering costs, discounts, and commissions (132)   (132)      
Contributions from non-controlling interests 1,173         1,173
Stock-based compensation, net of shares of restricted stock forfeited 2,471   2,471      
Conversion of OP Units to shares of common stock     0      
Distributions declared (57,866)     (55,388)   (2,478)
Change in fair value of interest rate swap agreements (10,463)       (10,018) (445)
Realized loss (gain) on interest rate swap agreements (6)       (6)  
Adjustment to non-controlling interests 0   1,559   (1,687) 128
Ending balance at Jun. 30, 2025 $ 3,035,821 $ 47 $ 3,459,939 $ (571,302) $ 18,009 $ 129,128